Be cautious with the real estate business

Daily we get to hear about the property deals made in the real estate sector of the country. Some deals are too high and some crashes down the dreams and expectations of the experts and the common man. The buyer and the seller, both have to be very cautious at the time of buying or selling the property. The developments and the new trends in the real estate sector have made a lot of changes in the pricing of the properties. The property dealers and the builders are also finding it difficult to understand the current ups and downs and how to satisfy the demands and expectations of the target audience.

The deals happening in the Khar housing society of Mumbai, is surely raising the expectations of the common man as well as the builders. In the old Khar society of Mumbai, 1BHK flats have been sold for 4- 4.5 Crore, which is invariably high. These flats are said to be purchased by Parinee Developers, a Mumbai builder, who is planning to build a hi- tech residential tower. He has planned to buy 37 flats for Rs. 200 Crore, containing both 1 BHK and 2 BHK flats. According to the experts, this step can create baseless hype in the price expectations of the properties nearby the Khar society.

Mumbai is already said to be the costliest market, when it comes to real estate. And steps like these can end up making the property dealers and the common man greedy. The industry needs to understand that this step is taken by just one builder to reconstruct the whole society again. This step, surely cannot affect the whole real estate industry and both the buyers and the sellers should not let their expectations exceed.

Property Dealers Wooing Investors

The real estate in India is witnessing a boom across all cities, be it metros or tier-II, III and IV cities. But, in places like Ludhiana where situation is not the same, property dealers are busy wooing realty investors by giving away freebies like cars.

The real estate giants who invested in property two years ago before the economy slowdown have not found any buyers yet. To release the blocked money of real estate developers, a two day property dealers’ exhibition was organized by Real Estate Bank of India (REBI). The first of its kind, the exhibition had 13 participants, all real estate dealers from North India. The property dealers whose older products remained unsold also participated in the exhibition to boost the sales and get returns on the investments.

The attraction at the exhibition was a lucky draw after every ten buys i.e. a Tata Indigo car. With registration by 350 people, property dealers are supposed to be gifting 25 cars but only after 10 ‘genuine’ deals. The results for the lucky draw are to be announced on June 29 as scrutinizing forms and studying backgrounds to identify genuine deals will take some time.

It is important to find the buyers and get the products sold for real estate dealers else it results in losses. This is why they sold few properties on special discounts like Rs. 100-250 per square yard off for on the spot buyers.

Real estate in India is on a revival mode where the steep fall in prices during last two years has started picking up. The construction of projects across all segments-residential, commercial and retail- has begun and the capital as well as rental values have also risen. Property market has become one of the most preferred investment areas in India.

Mumbai Racing to Build Tallest Residential Building

The city of glitz and glamour, Mumbai is gearing up to see world’s tallest residential tower with 117 storeys on 17 acres. Mumbai based real estate builders, Lodha Developers will release Rs.2,000 crores to construct the residential skyscraper in Lower Parel area of the city.

The World One project would not only cash in on the continually rising housing prices but would also be an iconic tribute to Mumbai. By launching this project in the financial capital of India, Lodha Builders are expected to surpass the current tallest residential tower in India constructed by Shapoorji Pallonji. Their twin towers, Imperial Heights are 249 metres or 60 storeys each located at Tardeo. Not only will it outdo India’s but world’s tallest residential building in Australia, Q1 building in Gold Coast at 323 metres and 78 floors.

Lodha building at 442 metres high is planned to contain 276 luxury apartments. It includes luxury villas with private pools, a high end shopping mall and an office building.
The homes in Lodha building aim at tapping the realty demand among billionaires priced at more than 10 million dollars. The project of such phenomenal magnitude could be available for none other than high net worth individuals at premium prices. This is sure to be a symbol of the arrival of India on the global stage and a landmark exemplifying the spirit of Mumbai to soar higher.

Lodha Group has been creating realty benchmarks by first offering a record-breaking bid of over Rs 4,000 crore for a six-acre plot in Wadala barely a fortnight ago. And, now the prestigious residential project expected to complete in 2014 is competing with Dubai’s Pentominium Tower. Developed by Trident International Holdings at 516 metres high, the long delayed project is announced to be finished by 2013.

Huge Investments in IT and BT Sectors in Karnataka

Karnataka, the favorite IT (Information Technology) and BT (Bio Technology) hub of India is all set to receive huge investments from as many as 55 companies. Various IT and biotech firms have come forward and proposed investments of nearly Rs.12,500 crores in the knowledge center of India.

IT and BT minister, K. Subramanya Naidu confirmed that various national and international companies are showing keen interest in expanding their operations in the region. Companies like TCS, Wipro, Infosys, Tata Elxsi, Xchanging Technology Services Ltd, Makado Energy, Silver Gem Energy Diodes Ltd, Applied Materials and numerous others are planning to set up operations in the proposed Information Technology Investment Region (ITIR) at Devanahalli near the Bangalore International airport. The state government has already entered into memoranda of understanding with 55 IT and BT firms at the Global Investors Meet (GIM 2010) on June 3. It is now expected to constitute a management board to govern the ITIR and the state empowered committee under the chairmanship of the chief minister.

Since Bangalore has been long prosperous with an influx of IT and BT firms, the government is now shifting focus to other tier-II and III cities of Karnataka. Investors are happy that they are getting support from the government as it is going to help in smooth implementation of the projects. It is encouraging not only well established brands but also entrepreneurial start-ups to pump in money into the state. Around 2,200 acres in its first phase, ITIR is expected to see IT parks, Special Economic Zones (SEZs), integrated townships equipped with modern amenities, excellent connectivity and much more. The Software Technology Parks of India (STPI) in the electronics city, on the outskirts of Bangalore is to see a Characterization Lab that deals with nanotechnology at Orchid Tech Space.

Investment in Indian Property Lucrative

India is a rapidly progressing country that recovered much more quickly from the economic slowdown as compared to other established economies of the world. It has emerged as a robust economy and this is why investments in Indian real estate continue to attract NRIs and investors from overseas.

Investments in Indian market are so lucrative because they not only yield higher returns but also give a sense of security. The private sector that boasts of a dynamic and competitive nature has been a key driver for the economic growth of the country. It presents considerable scope for both foreign and NRI investments in the real estate market.

The Foreign Exchange Management Act, 1999 (FEMA) defines NRI as an 'Indian citizen' or a 'Person of Indian Origin' (PIO). It broadly regulates matters related to NRI investments in India- investment in immovable property, foreign exchange, bank deposits, government bonds, investment in shares, units, securities and foreign direct investment.

As far as investments from foreign investors are regarded, they too are found looking for property in India. The only country likely to see stronger growth in the next five years is China much easier for foreigners to purchase property in India than in China. Sources suggest gross domestic product grew by 5% in India last year with higher expectations for the coming year expected.

Foreigners have found that India offers them good value for money with reports suggesting strong price growth in the next few years with an increasing demand for property to buy or rent. The country’s currency is the rupee whose value is generally stable and is linked to a basket of currencies. They believe it is a good idea to maintain a stock of smaller currency and are looking forward to explore property market of India.

PG or rent houses for students

Delhi, the capital of the country, has slowly been started considered as the most preferred education destination by all the students. One can see a large number of students applying for courses in the colleges of Delhi. Delhi University being the hot spot in terms of education for all the students belonging to foreign countries or other states in India is also a major contributor to the real estate sector of the country. Most of the students who come from different parts of the country, choose either for a PG, rented house, or an own flat in the areas neighbouring their college.

The students generally prefer for PG or rented apartments, close to their house, and where they have easy access to the basic amenities required for their smooth survival. Most of the DU students have their houses in the north campus or the south campus, depending on the campus, where they have taken admission. There are many good Paying guest and rented housing facilities in these areas, which surely add to the comfort level for the students. While owning a flat has its own plus points, as you are the owner of the house and do not have to bare and follow the restriction charts of the landlord. Students also need to be very careful while choosing the right house at the right place. You must finalise the location of your house, after doing a complete recci of the area and the people living there and in the surrounding areas. Especially in case of girls, safety and security should be the points given top priority, while selecting a house for yourself.

Another point, which should be kept by students, while choosing a home, is that they should try and not get themselves involved in any of the agents scam. These agents, generally charge a huge amount of money and many a times one ends up with a bad house and in a dirty location. You must do a proper research and approach the renowned agencies, which provide services in the real estate industry of the country. So, you should check all the pros and cons before finalising a house, because a happy house leads to a better career and a contended life.

Increasing prices of houses

The property rates are seen going high day by day. The prices of the housing properties are actually touching heights and its becoming tough for the buyers to fetch a house for them and their family. Buying a house in cities like Delhi or Mumbai has become almost impossible, with the prices of the properties there, touching heights. This can be seen as a positive sign because of the increasing prices is a resultant of the increasing demand of the housing property in these areas. This is the profit making time for the people involved in the business of real estate. But, if we see from the buyer’s point of view, he has to pay extra money to the dealer, due to the excess demand.

The space is limited, but the number of people, wanting to reside in that space is increasing. Many factors like migration due to job, education, livelihood, can be held responsible for the increase in demand of the housing property in certain areas. Area is a problem and this needs to be sorted out by the government, municipality division and the property developers. This is entirely their responsibility that every citizen of the country gets proper space to live. The upper strata of the society definitely get a posh space to live, by paying more for the same space. But in case of the people will low salary packages, they are left with no option other than to set up slum areas, which are tagged as illegal by the government and then deconstructed.

In all this the common man has to suffer. Every business needs to flourish, so does real estate also, but not at the cost of the common man’s sacrifices. Equal attention needs to be given to both the sides, so that no one has grudges against the other. The government needs to come out with some property designs, which are comfortable and in the reach of the common man, making each individual a proud owner of his house.

Rising property rates in Gurgaon

Real estate business in Gurgaon is no doubts touching heights, but the property rates of the region have also crossed limitations. This is true that if we want new developments and technologies to be implemented in our lifestyle, then corresponding amount also needs to be paid for the same. The luxurious apartments, advanced technologies, pollution free areas, nature- friendly societies, lavishing work styles, surely have a cost and if you aim for these facilities then you also need to pay for it. The lifestyle possessed by the people living in these posh colonies of Gurgaon is really fabulous.

The property rates in Gurgaon have increased also because of the commencement of many industries and business houses in the area. The land of Gurgaon has proved to be a great base for the commercial sector of the country. Many renowned brands have their corporate houses in Gurgaon. The credit for the increase in the popularity of gurgaon as a preferred business centre also goes to the availability of the space and the pollution free environment the city offers. The business for the rented houses is also at rise. This is because most of the people working in the companies in Gurgaon hail from different parts of the country, due to which finding the nearest housing facility is the best option for them.

The rent for these houses depends on the areas or the location in which the houses are placed. More developments are yet to come in different parts of Gurgaon and the areas surrounding. Purchasing a land or flat in Gurgaon can be highly beneficial for your generations to come. This has actually come up as a trend. Most of the people these days, can be seen buying properties in these areas, the prices of which are sure to rise, and certainly will prove to be a great supporting factor at the times of need in future.

Gurgoan property styles - turning dreams into realities

We all are aware of the fact that most of the industries and major business has shifted their offices from Delhi to Delhi NCR regions. Out of these NCR’s Gurgaon and Noida are considered as the major areas, where you can search for a job of your choice. These regions can also be tagged as the job hubs of the city, which has the largest number of offices, employing thousands of citizens, thereby adding millions to the country’s finances. Among Gurgaon and Noida, Gurgaon is the place, which is far better in terms of the real estate development. The real sector in Gurgaon has developed a lot. In fact, it is not only the housing property but the commercial and the official properties also have spread its wings in the region of Gurgaon.

As soon as we enter Gurgaon, the huge malls, buildings, offices are there to welcome us. Also, the biggest mall of Delhi is in Gurgaon itself, i.e. the Ambience mall. The housing properties adjacent to these areas are amazing. Last week I went to Gurgaon after so long and I was actually not able to recognise the places. I mean the entire structure has been reformed and the place has become very modernised and beautiful. I hope every one likes those tall glass buildings, in different shapes, structures and which are presented so well. Just looking at those offices, makes a person wanting to have job in one of such offices.

The houses even are so attractive and striking that for once you would not even be able to take your eyes off from those huge building. The societies in these areas have all the facilities one could have ever thought of. I mean the flats are just the mirror image of the dream house of any human being. Thus, I can surely say that the new architectural development and styles adopted by the real estate sector in Gurgaon is in all ways turning dreams of millions into reality.

Flat system shifting to floor system

The latest trend i have observed in the recent times, is that most of the people are shifting their houses from flats to bungalows or floors in bungalows. The real estate industry these days have grown manifold. The different needs and requirements of people have lead to the development of various kind of housing projects. If we look around, there are a number of new housing projects coming up. Not only residential, but there are many corporate and commercial complexes also being built at every nook and corner of the city.

The living standards of delhiites have changed no doubt. With this change, their preferences in terms of the residential areas and designs have also transformed. Earlier the trend of flats was very common, everybody was planning to buy flats in societies. Though the trend of high society flats is still prevalent, but a shift has been seen towards the floor system in the latest times. It is mostly because of the fact that in case of floors system, the privacy of the family is maintained and the stairs are shared hardly by two or three families. Also the space in case of floors seems to be large and their is a sense of ownership, which gives the owner the pride of owning the house.

The security of the houses is also a big issue and in case of floor system of bungalows, individual security systems can be hired which ensure more safety and guarding measures. Though, flats these days also have great security systems but the personal security guards provided at floors, provides a sense of satisfaction to the family and its members. And if you have money then why not invests it for the safety of your family and become a proud owner of the a big and a huge bungalow floor in one of the posh colonies of the city.

Homes for senior citizens

Senior citizens are an important part of our society; they need special care and attention. It is said, our life completes a full circle, like, in the starting, a baby is dependent on his parents for his each and every action, same ways, when parents become old, they are dependent on children for their small- small activities. Thus, senior citizens, or old people need extra care and attention, whether it’s by their children or by their life partner. These days, there are special parks, community centres and groups formed, where senior citizens can go and utilise their time in a better way. Senior citizens, mainly come across problems of better living, where they are not facilitated with all the necessary requirements, due to which they are not able lead a healthy lifestyle.

The real estate sector of India is coming up with great housing projects for the senior citizens, to provide them with all the facilities, which make their life easier and worth living. In fact, making good housing projects for the senior citizens has become an industry in itself, which has turned out to be a great benefit for the older people, where they can live their life, and their way. Due, to the younger generation adopting the culture of nuclear families, more of senior citizens are getting alone in the big and huge houses. The best solution, they look for, during this stage is living in a small house, where both the husband and wife can enjoy and lead their life in peace after retirement.

Even the government is encouraging such projects and its demand is increasing, leading to the development of a new sector in the real estate market, and hence adding to its growth. Thus, initiation of such projects can result in great placing of the senior citizens in the areas of their interest and environment suiting their personality and requirements.